STR, can you clarify, "With their meeting of the $10M loan obligation"
I understand they only owe approx $6.8 million (Jan F/S) on the N/P (borrowed against the Hansen Properties) and will pay another 750k on trade payables.
The $10 million is the proceeds from the sale of the Hansen Properties.
I am hoping we end up with $500,000+ in the bank, after the $1.7 MM purchase of the Sterns Properties.
Not much cash to get additional production online.
Will will have to come out of the gate running....
If he does this will have a quick run up.
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